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On November 4, the State Bank of Pakistan will make its monetary policy announcement.

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The State Bank of Pakistan (SBP) will declare the monetary policy on Monday, November 24, 2024, as stated by the central bank on Thursday.

The State Bank of Pakistan (SBP) announced in a press statement that the Monetary Policy Committee (MPC) will convene on Monday, November 04, 2024, to determine the Monetary Policy. “Subsequently, the SBP will disseminate the Monetary Policy Statement via a press release on the same day,” it stated.

The MPC will assess the whole economic and financial landscape, key indicators, sectoral statistics, and significant changes occurring since the prior monetary policy pronouncement.

On September 12, the SBP implemented a significant reduction of 200 basis points in its policy rate. The central bank reduced the interest rate by two percent to 17.5% in the policy released two months ago.

Analysts anticipated that the committee would maintain monetary easing between 150-200 basis points due to a subdued inflation outlook.

The state bank said that inflation decreased to a single digit in August, registering at 9.64 percent. “Inflation is consistently declining.”

The central bank stated that the growth for the current year is expected to be 3.5 percent.

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PSX 100-index reaches an unprecedented peak, exceeding 111,000 points.

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The Pakistan Stock Exchange (PSX) reached the significant milestone of 111,000 points shortly after today’s market opening.

The KSE-100 Index ascended by more than 1,000 points in the initial five minutes of trade, achieving a notable increase of 1,044 points to attain 111,014 points.

The increase indicates heightened investor confidence and a robust market sentiment.

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SIFC Initiates Carbon Market Initiative: Pakistan Pursues Green Investment at COP29

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Pakistan has introduced its inaugural Carbon Market Policy at the 29th Conference of the Parties in Baku to attain climate objectives and encourage green investments.

The policy seeks to enhance investment in the energy, agriculture, and forestry sectors.

Through the initiatives of the Special Investment Facilitation Council, Pakistan has developed a transparent carbon market framework that adheres to international norms.

The policy conforms to international standards and establishes a definite strategic orientation.

Pakistan’s carbon market policy promotes environmental conservation, economic development, and sustainability.
It promotes the use of eco-friendly technologies by enterprises and the reduction of greenhouse gas emissions.

The policy represents a substantial advancement in the worldwide effort to combat climate change. It encourages international investors and organizations to participate in Pakistan’s carbon market.

SIFC aims to mitigate environmental concerns while promoting economic growth via the Global Carbon Market.

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When the benchmark hits 109,881 points, the PSX-100 index sets a new record.

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During the first hour of trading today, the Pakistan Stock Exchange (PSX) made a stunning comeback, moving from negative to positive territory. After losing 1,400 points, the market recovered and gained 800 points.

Setting a new high, the benchmark KSE-100 Index jumped 827 points to a record-breaking 109,881 points. Restored investor confidence was also reflected in the market’s return to its crucial levels of 108,000 and 109,000 points.

Supportive government policies and recent strong economic data are credited by experts with this success, as they have improved market mood.

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